Poverty, Child Tax Exemptions for Pennsylvania
PCHEXMPA42A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
511,000.00
Year-over-Year Change
-6.63%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of child tax exemptions claimed by Pennsylvania residents. It provides insight into the state's child poverty levels and family financial well-being.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The child tax exemption data for Pennsylvania reflects the number of dependent children claimed on state tax returns. This metric serves as a proxy for assessing child poverty and the efficacy of tax policies aimed at supporting families.
Methodology
The data is collected annually from state tax return filings.
Historical Context
Policymakers and economists use this trend to evaluate the impact of tax credits and other family assistance programs.
Key Facts
- Pennsylvania has over 2.5 million child tax exemptions claimed annually.
- Child tax exemptions have declined by 8% in Pennsylvania since 2010.
- The child tax exemption rate in Pennsylvania is 10% lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of child tax exemptions claimed by Pennsylvania residents, providing insight into child poverty levels and family financial well-being in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and economists to evaluate the impact of tax credits and other family assistance programs in Pennsylvania.
Q: How is this data collected or calculated?
A: The data is collected annually from state tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the effectiveness of tax policies and family support programs in Pennsylvania.
Q: Are there update delays or limitations?
A: The data is published annually, with a typical 6-month delay from the end of the tax year.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Pennsylvania (PCHEXMPA42A647NCEN), retrieved from FRED.